Proportionate Interest on amount transferred to group concerns without commercial expediency not allowable

IN THE ITAT COCHIN BENCH Poabs Rock Products (P.) Ltd. V/s. Deputy Commissioner of Income-tax IT APPEAL NOS. 574 TO 575 AND 618 TO 619 (COCH.) OF 2010 [ASSESSMENT YEARS 2006-07 TO 2007-08] APRIL 3, 2012 ORDER N.R.S. Ganesan, Judicial Memebr Both the assessee and the revenue filed the appeals for assessment years 2006-07 and 2007-08. Since common issues arise for consideration in these appeals we heard them together and are disposed of by this common order. Assessee’s appeals 2. The first issue for the assessment year 2006-07 is disallowance of Rs. 1,01,448 towards intere...